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L•••• R•••• F•••••• C••••
Business development companymanaged by M•••• L•••• M•••••••••Non-tradedLatest schedule Mar 31, 2025· NEW YORK, NY
A non-traded business development company, managed by M•••• L•••• M•••••••••, holding $678M across 74 borrowers at Mar 31, 2025.
Composed from this BDC's filings and its latest schedule of investments.
As of · the latest schedule of investments read for this BDC
- Fair value
- $678M
- Borrowers
- 74
- Mark on cost
- 86.8¢
- First lien
- 34%
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
As of · the latest schedule of investments read for this BDC
Nothing material in the last 200 days. Last change: 31 Mar 2025, 8 positions across 7 borrowers marked below 80¢ on cost, $36.4M principal.
Every headline figure, and the identifiersCIK 1571329 · file 814-01022ShowHide
Fair value
$678M
as of Mar 31, 2025
Principal held
$190M
debt pieces, the filer's figure
Cost
$790M
87c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
134
74 borrowers
First lien
34%
44% debt by fair value
Quarters on the tape
11
since Dec 31, 2021
Facilities held
0
0 sponsors financed
Portfolio through time
Fair value by quarter end$758M as of Mar 31, 2025
Dec 31, 2021$99.3M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Mar 31, 2025 | $758M | 74 | 87c | 5 | 652 bp |
| Dec 31, 2024 | $819M | 77 | 88c | 8 | 649 bp |
| Sep 30, 2024 | $784M | 72 | 90c | 6 | 653 bp |
| Sep 10, 2024 | Not disclosed | 1 | n/a | 0 | n/a |
All 13 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2024 | $897M | 72 | 92c | 5 | 652 bp |
| Mar 31, 2024 | $897M | 73 | 94c | 4 | 654 bp |
| Dec 31, 2023 | $924M | 72 | 94c | 2 | 654 bp |
| Sep 30, 2023 | $832M | 68 | 93c | 5 | 662 bp |
| Jun 30, 2023 | $914M | 73 | 94c | 7 | 625 bp |
| Mar 31, 2023 | $813M | 57 | 94c | 7 | 614 bp |
| Dec 31, 2022 | $1.7B | 72 | 95c | 12 | 612 bp |
| Jun 30, 2022 | Not disclosed | 1 | n/a | 0 | n/a |
| Dec 31, 2021 | $99.3M | 8 | n/a | 0 | 617 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New borrower on a BDC scheduleMar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Marked down (one lender)Mar 31, 2025
Full timeline · 20 eventsShow fewer
- Marked down (one lender)Mar 31, 2025
- Spread increasedMar 31, 2025
- Spread increasedMar 31, 2025
- Marked down (one lender)Mar 31, 2025
- New borrower on a BDC scheduleMar 31, 2025
- New lender joined a facilityDec 31, 2024
- New borrower on a BDC scheduleDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
- PIK interest appearsDec 31, 2024
Schedule of investments at Dec 31, 2022
290 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| G•••••••• I••••••••• L•• S••••• M•• | unstated lien unstated | Not disclosed | $69,000 | ||
| G•••••••• I••••••••• L•• • S••••• M•• I••••••••• | equity equity | Not disclosed | $69,000 100c | ||
| S•••• S••••• S••••••••• H•••••••• I••• | warrants equity | Not disclosed | $65,000 100c | ||
| S•••• S••••• S••••••••• H•••••••• I••• | warrants equity | Not disclosed | $65,000 100c | ||
| U••• B••••• L••••••••• L•• • C•••• C• T•••••• L••••••••• | equity equity | Not disclosed | $52,000 5200c | ||
| U••• B••••• L••••••••• L•• • C•••• C• T•••••• L••••••••• | equity equity | Not disclosed | $52,000 5200c | ||
| S••••• H••••••• H••••••• C••••••••• O•• • G•• E••••••••• a•• C••••••••• S••••••• | term loan second lien | $4,000 | $4,000 100c | PIK 15.00% | Sep 12, 2023 |
| S••••• H••••••• H••••••• C••••••••• O•• • G•• E••••••••• a•• C••••••••• S••••••• | term loan second lien | $4,000 | $4,000 100c | PIK 15.00% | Sep 12, 2023 |
| S••••• H••••••• H••••••• C••••••••• | term loan second lien | Not disclosed | $4,000 | Sep 12, 2023 | |
| W••••• E••••••••• G••••• L•• | revolver first lien | Not disclosed | -$4,000 -200c | S+600 bp | Oct 2, 2027 |
| W••••• E••••••••• G••••• L•• | revolver first lien | Not disclosed | -$4,000 200c | S+600 bp | Oct 2, 2027 |
| D••••••• L•• | revolver first lien | Not disclosed | -$6,000 -100c | S+700 bp | Dec 26, 2028 |
| D••••••• L•• | revolver first lien | Not disclosed | -$6,000 100c | S+700 bp | Dec 26, 2028 |
| B••• P••• T••••••••• | revolver first lien | Not disclosed | -$18,000 | S+425 bp | Jul 2, 2027 |
| B••• P••• T••••••••• | revolver first lien | Not disclosed | -$18,000 | S+425 bp | Jul 2, 2027 |
| A•••••••• P••••••• L•• | revolver first lien | Not disclosed | -$29,000 88c | S+625 bp | Aug 31, 2028 |
| A•••••••• P••••••• L•• | revolver first lien | Not disclosed | -$29,000 -88c | S+625 bp | Aug 31, 2028 |
| B••••••• I••••••••• I••• | revolver first lien | Not disclosed | -$71,000 394c | S+575 bp | Oct 21, 2026 |
| B••••••• I••••••••• I••• | revolver first lien | Not disclosed | -$71,000 -394c | S+575 bp | Oct 21, 2026 |
| S••••• H••••••• H••••••• C••••••••• | equity equity | Not disclosed | Not disclosed | ||
| B•••••••• H•••••••• L•• | equity equity | Not disclosed | Not disclosed | ||
| I••••••••• i• N••••••••• N••••••••• P•••••••• C•••••••• • 1• | preferred equity equity | Not disclosed | Not disclosed n/a | ||
| S••••• H••••••• H••••••• C••••••••• | term loan second lien | Not disclosed | Not disclosed | Sep 12, 2023 | |
| S••••• H••••••• H••••••• C••••••••• | equity equity | Not disclosed | Not disclosed | ||
| V•••••• I••• | preferred equity equity | Not disclosed | Not disclosed | ||
| L•• P•••••••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| M•• H•••••••• L•• | term loan second lien | Not disclosed | Not disclosed | Apr 1, 2022 | |
| A••••••••• B••••••••• S••••••••• L•• | warrants equity | Not disclosed | Not disclosed | ||
| G• C••••••••• I••• S••••• B•• | equity equity | Not disclosed | Not disclosed | ||
| I••••••••• i• N••••••••• N••••••••• P•••••••• C•••••••• • 1• | preferred equity equity | Not disclosed | Not disclosed n/a | ||
| M•• H•••••••• L•• C••••• | equity equity | Not disclosed | Not disclosed | ||
| A•••••••• i••••••••• T•••• A•••••••• i••••••••• • | unstated lien unstated | Not disclosed | Not disclosed | ||
| M••••• P•••• C••••• M••••••••• L•• | revolver first lien | Not disclosed | Not disclosed n/a | S+600 bp | Aug 11, 2028 |
| R•• P••••••• L•• | term loan first lien | Not disclosed | Not disclosed | S+500 bp | Jan 4, 2024 |
| I••••••••• i• A••••••••• P•••••••• C•••••••• • 2•••• F•••• L | term loan first lien | Not disclosed | Not disclosed | ||
| M•• H•••••••• L•• C••••• | equity equity | Not disclosed | Not disclosed | ||
| L•• P•••••••• L•• C••••• | equity equity | Not disclosed | Not disclosed | ||
| G• C••••••••• I••• • | unstated lien unstated | Not disclosed | Not disclosed | ||
| M•• H•••••••• L•• M•••••• D••••• D••••••••• | equity equity | Not disclosed | Not disclosed | ||
| V•••••• I••• | preferred equity equity | Not disclosed | Not disclosed | ||
| V•••••• I••• | equity equity | Not disclosed | Not disclosed | ||
| E••••••• H•••••••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| I••••••••• i• N••••••••• N••••••••• P•••••••• C•••••••• • 1• | preferred equity equity | Not disclosed | Not disclosed | ||
| L•• P•••••••• L•• | preferred equity equity | Not disclosed | Not disclosed | ||
| G•••••••• I••••••••• | equity equity | Not disclosed | Not disclosed | ||
| L•• P•••••••• L•• C••••• | equity equity | Not disclosed | Not disclosed | ||
| N•• D••••• I••••••••• G••••• L•• | equity equity | Not disclosed | Not disclosed | ||
| G• C••••••••• I••• | preferred equity equity | Not disclosed | Not disclosed | ||
| H•••• U• T••••••••• I••••••••• | term loan first lien | Not disclosed | Not disclosed | S+550 bp | Aug 10, 2028 |
| M•• H•••••••• L•• M•••••• D••••• D••••••••• | equity equity | Not disclosed | Not disclosed | ||
| R•• P••••••• L•• | term loan first lien | Not disclosed | Not disclosed | S+500 bp | Jan 4, 2024 |
| L•• P•••••••• L•• C••••• | equity equity | Not disclosed | Not disclosed | ||
| M•• H•••••••• L•• C••••• | equity equity | Not disclosed | Not disclosed | ||
| B•••••••• H•••••••• L•• | equity equity | Not disclosed | Not disclosed | ||
| U•••• J••••••• Q•••• H•••••••• L•• E••••••••• | preferred equity equity | Not disclosed | Not disclosed n/a | ||
| T•••• A•••••••• i••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| S••••• H••••••• H••••••• C••••••••• | term loan second lien | Not disclosed | Not disclosed | PIK 15.00% | Sep 12, 2023 |
| A••••••••• B••••••••• S••••••••• L•• | warrants equity | Not disclosed | Not disclosed | ||
| V•••••• I••• | term loan first lien | Not disclosed | Not disclosed | S+850 bp | Mar 31, 2022 |
| V•••••• I••• | equity equity | Not disclosed | Not disclosed | ||
| A••••••••• B••••••••• S••••••••• L•• H••••••••• | equity equity | Not disclosed | Not disclosed n/a | ||
| R•• P••••••• L•• | term loan first lien | Not disclosed | Not disclosed | S+500 bp | Jan 4, 2024 |
| A••••••••• B••••••••• S••••••••• L•• H••••••••• | equity equity | Not disclosed | Not disclosed n/a | ||
| R•• P••••••• L•• | preferred equity equity | Not disclosed | Not disclosed | ||
| G• C••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| G•••••••• I••••••••• L•• S••••• M•• ••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| N•• D••••• I••••••••• G••••• L•• | equity equity | Not disclosed | Not disclosed | ||
| M•• H•••••••• L•• | preferred equity equity | Not disclosed | Not disclosed | ||
| R•• P••••••• L•• | preferred equity equity | Not disclosed | Not disclosed | PIK 6.00% | |
| G• C••••••••• I••• • S••••• B•• A••••••••• • M•••••••• Services | equity equity | Not disclosed | Not disclosed n/a | ||
| C•••••• i••••••••• T•••• C•••••• i••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| V•••••• I••• | term loan first lien | Not disclosed | Not disclosed | S+850 bp | Mar 31, 2022 |
| U•••• A••••••••• B••••••••• S••••••••• L•• • S••••• B• H••••••••• | preferred equity equity | Not disclosed | Not disclosed n/a | ||
| I••••••••• i• N••••••••• N••••••••• P•••••••• C•••••••• • 1• | preferred equity equity | Not disclosed | Not disclosed n/a | ||
| L•• P•••••••• L•• | preferred equity equity | Not disclosed | Not disclosed | ||
| G• C••••••••• I••• | preferred equity equity | Not disclosed | Not disclosed | ||
| M•• H•••••••• L•• | term loan second lien | Not disclosed | Not disclosed | Apr 1, 2022 | |
| H••••••••• A••••••••• B••••••••• S••••••••• L•• | equity equity | Not disclosed | Not disclosed | ||
| U•••• A••••••••• B••••••••• S••••••••• L•• • S••••• A• H••••••••• | preferred equity equity | Not disclosed | Not disclosed n/a | ||
| M•• H•••••••• L•• | preferred equity equity | Not disclosed | Not disclosed | ||
| M•• H•••••••• L•• | term loan first lien | Not disclosed | Not disclosed | Apr 1, 2022 | |
| M••••• P•••• C••••• M••••••••• L•• | revolver first lien | Not disclosed | Not disclosed n/a | S+600 bp | Aug 11, 2028 |
| M•• H•••••••• L•• | term loan first lien | Not disclosed | Not disclosed | Apr 1, 2022 | |
| G• C••••••••• I••• S••••• B•• | equity equity | Not disclosed | Not disclosed | ||
| G• C••••••••• I••• • S••••• B•• A••••••••• • M•••••••• Services | equity equity | Not disclosed | Not disclosed n/a | ||
| L•• P•••••••• L•• | preferred equity equity | Not disclosed | Not disclosed | ||
| G•••••••• I••••••••• | equity equity | Not disclosed | Not disclosed | ||
| I••••••••• i• N••••••••• N••••••••• P•••••••• C•••••••• • 1• | equity equity | Not disclosed | Not disclosed | ||
| U•••• A••••••••• B••••••••• S••••••••• L•• • S••••• C• H••••••••• | preferred equity equity | Not disclosed | Not disclosed | ||
| R•• P••••••• L•• | term loan first lien | Not disclosed | Not disclosed | S+500 bp | Jan 4, 2024 |
Page 3 of 3Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- unknownreported
- On the SEC BDC report
- 2013 to 2025reported
- Filings listed
- 14reported10-Q and 10-K since 2022
- Former names
- Capitala Finance Corp.reported
- Latest schedule
- 0000950170-25-066912reported